Orthofix Medical (NASDAQ:OFIX) Updates FY 2022 Earnings Guidance

Orthofix Medical (NASDAQ:OFIXGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.58-$0.73 for the period, compared to the consensus EPS estimate of $0.66. The company issued revenue guidance of $475.00 million-$490.00 million, compared to the consensus revenue estimate of $481.93 million.

Shares of NASDAQ:OFIX traded up $0.07 during trading on Thursday, reaching $27.11. The stock had a trading volume of 66,158 shares, compared to its average volume of 100,218. Orthofix Medical has a 52 week low of $26.07 and a 52 week high of $43.30. The firm has a market capitalization of $539.81 million, a price-to-earnings ratio of -14.54 and a beta of 0.96. The company has a quick ratio of 1.88, a current ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $31.00 and a two-hundred day simple moving average of $31.44.

Orthofix Medical (NASDAQ:OFIXGet Rating) last released its quarterly earnings results on Friday, May 6th. The medical device company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.28). Orthofix Medical had a negative net margin of 7.96% and a positive return on equity of 3.34%. The firm had revenue of $106.42 million during the quarter, compared to the consensus estimate of $104.70 million. On average, analysts forecast that Orthofix Medical will post 0.59 EPS for the current year.

OFIX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Orthofix Medical from a hold rating to a sell rating in a research report on Wednesday, May 11th. StockNews.com lowered shares of Orthofix Medical from a buy rating to a hold rating in a research report on Tuesday, May 10th. Stifel Nicolaus raised shares of Orthofix Medical from a hold rating to a buy rating and boosted their target price for the stock from $41.00 to $45.00 in a research report on Friday, March 4th. Finally, TheStreet lowered shares of Orthofix Medical from a c- rating to a d rating in a research report on Friday, February 25th.

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Orthofix Medical during the first quarter worth $39,000. Royal Bank of Canada boosted its stake in shares of Orthofix Medical by 129,400.0% in the 2nd quarter. Royal Bank of Canada now owns 1,295 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 1,294 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Orthofix Medical during the 3rd quarter worth about $240,000. Dynamic Technology Lab Private Ltd acquired a new position in Orthofix Medical during the 1st quarter worth about $215,000. Finally, Zebra Capital Management LLC lifted its position in Orthofix Medical by 11.7% during the 1st quarter. Zebra Capital Management LLC now owns 8,516 shares of the medical device company’s stock worth $278,000 after buying an additional 892 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Company Profile (Get Rating)

Orthofix Medical Inc operates as a medical device and biologics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion, as well as used as a therapeutic treatment for non-spinal and appendicular fractures.

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Earnings History and Estimates for Orthofix Medical (NASDAQ:OFIX)

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